Will Rory be right? He's gambling and welcome to do it. The 3rd quarter had several surprises in it that caught us longs off guard.
This quarter: The current loss expectations I believe are too high. The first quarter numbers are by far too low. We may get two two surprises in one. Just like the wrigley's gum commercials. This quarter we have upgrades in front of the numbers. IMO opinion Lazard is setting itself up to be able to upgrade again to buy.
SUPG's cash position should be slightly above the 70M number. We may see additional cash from O/W exercized in the 4th quarter. I will not be surprised if we move the PPS into the mid's 6's by the end of next week. Just a little surprise in our favor this time and this may become a reality.
Also keep your eye on institution holdings updates in early April. Deerfield may own 16% of SUPG!